Proficio Capital Partners LLC Takes Position in Lyft, Inc. (NASDAQ:LYFT)

Proficio Capital Partners LLC bought a new position in shares of Lyft, Inc. (NASDAQ:LYFT) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 13,648 shares of the ride-sharing company’s stock, valued at approximately $176,000.

Several other institutional investors have also bought and sold shares of LYFT. True Wealth Design LLC bought a new position in shares of Lyft during the third quarter valued at $27,000. Mirae Asset Global Investments Co. Ltd. acquired a new stake in shares of Lyft during the 4th quarter worth about $29,000. ORG Wealth Partners LLC bought a new position in Lyft during the 4th quarter valued at about $31,000. Byrne Asset Management LLC acquired a new position in Lyft in the fourth quarter valued at about $35,000. Finally, Sunbelt Securities Inc. acquired a new position in Lyft in the third quarter valued at about $70,000. Institutional investors and hedge funds own 83.07% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the stock. Royal Bank of Canada reiterated an “outperform” rating and issued a $21.00 target price on shares of Lyft in a research note on Tuesday, February 18th. Bank of America boosted their price objective on Lyft from $19.00 to $21.00 and gave the stock a “buy” rating in a research note on Tuesday, February 11th. Roth Capital restated a “neutral” rating on shares of Lyft in a research note on Wednesday, February 12th. Susquehanna cut their price target on Lyft from $18.00 to $15.00 and set a “neutral” rating for the company in a report on Thursday, February 13th. Finally, DA Davidson decreased their price objective on shares of Lyft from $16.00 to $15.00 and set a “neutral” rating on the stock in a report on Wednesday, February 12th. Twenty-six equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Lyft currently has a consensus rating of “Hold” and a consensus price target of $17.13.

Insiders Place Their Bets

In other news, Director Logan Green sold 11,411 shares of Lyft stock in a transaction that occurred on Thursday, February 27th. The shares were sold at an average price of $13.34, for a total value of $152,222.74. Following the sale, the director now directly owns 297,640 shares in the company, valued at $3,970,517.60. This trade represents a 3.69 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director John Patrick Zimmer sold 2,424 shares of the stock in a transaction on Tuesday, February 25th. The stock was sold at an average price of $12.52, for a total transaction of $30,348.48. Following the transaction, the director now owns 911,922 shares of the company’s stock, valued at $11,417,263.44. The trade was a 0.27 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 15,407 shares of company stock worth $203,778. Corporate insiders own 3.07% of the company’s stock.

Lyft Price Performance

Shares of LYFT opened at $11.61 on Thursday. The stock has a 50 day simple moving average of $13.33 and a 200 day simple moving average of $13.78. Lyft, Inc. has a 52-week low of $8.93 and a 52-week high of $20.82. The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.75 and a current ratio of 0.76. The firm has a market capitalization of $4.85 billion, a PE ratio of 193.50, a P/E/G ratio of 1.90 and a beta of 2.15.

Lyft (NASDAQ:LYFT) last released its quarterly earnings results on Tuesday, February 11th. The ride-sharing company reported $0.10 earnings per share for the quarter, missing the consensus estimate of $0.20 by ($0.10). Lyft had a net margin of 0.39% and a return on equity of 8.03%. Sell-side analysts predict that Lyft, Inc. will post 0.22 EPS for the current fiscal year.

Lyft declared that its board has authorized a stock buyback program on Tuesday, February 11th that authorizes the company to buyback $500.00 million in outstanding shares. This buyback authorization authorizes the ride-sharing company to reacquire up to 8.4% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s leadership believes its shares are undervalued.

Lyft Profile

Lyft, Inc operates a peer-to-peer marketplace for on-demand ridesharing in the United States and Canada. It operates multimodal transportation networks that offer access to various transportation options through the Lyft platform and mobile-based applications. The company's platform provides a ridesharing marketplace, which connects drivers with riders; Express Drive, a car rental program for drivers; and a network of shared bikes and scooters in various cities to address the needs of riders for short trips.